Fox Corporation
}} Fox Corporation (abbreviated Fox Corp. and informally "New Fox") is an American television broadcasting company headquartered in Midtown Manhattan, New York City. It was formed from the 2019 acquisition of 21st Century Fox (itself formed from the 2013 split of News Corporation) by The Walt Disney Company. Fox Corp. was spun off from 21st Century Fox and its stock began trading on March 19, 2019. It is owned by the Murdoch family via a family trust with 39% interest; Rupert Murdoch is co-executive chairman, while his son Lachlan Murdoch is chairman and CEO. Fox Corp. deals primarily in the television broadcast, news, and sports broadcasting industries by way of the remaining 21st Century Fox assets that were not acquired by Disney. They include the Fox Broadcasting Company, Fox Television Stations, Fox News, the Fox Business Network, the national operations of Fox Sports, and others. Its sister company under Murdoch's control, the present-day News Corp, holds his print interests and other media assets in Australia. History Formation On December 14, 2017, The Walt Disney Company announced its intent to acquire the motion picture, cable entertainment, and direct broadcast satellite divisions of 21st Century Fox. The remainder of the company would form a so-called "New Fox", maintaining control of assets such as Fox's television network and broadcast stations, Fox News, and the national operations of Fox Sports, among other assets. Fox's regional sports networks were to be included in the sale to Disney. In May 2018, it was confirmed that Lachlan Murdoch, rather than James Murdoch, would take charge of the New Fox company. The merger faced antitrust scrutiny; Disney would not legally be able to own both the ABC and Fox networks due to an FCC policy known as the "dual network rule", which prohibits mergers between the top broadcast networks. The Department of Justice also ordered that Fox's regional sports networks be divested by Disney within 90 days of closing. Disney owns 80 percent of ESPN, and the Justice Department felt that the Fox regional networks' combination with ESPN would make Disney too dominant in the cable sports market. In mid-2018, Comcast instigated bidding wars over both the assets Disney planned to purchase, and the British broadcaster Sky plc (a company which 21st Century Fox held a stake in, and was planning to acquire the remainder). In July 2018, Fox agreed to an increase of Disney's offer to $71.3 billion to fend off Comcast's counter-bid. British regulators ordered that a blind auction be held for Sky's assets, which would be won by Comcast. On October 10, 2018, it was reported that in preparation for the impending completion of the sale, the new, post-merger organizational structure of "New Fox" would be implemented by January 1, 2019. On November 14, 2018, it was revealed that the new independent company will maintain the original Fox name. On January 7, 2019, Fox Corporation's registration statement was filed by the U.S. Securities and Exchange Commission. On January 11, 2019, Fox stated in a securities filing that it had no plans to bid on its former regional sports networks. On March 12, 2019, Disney announced that the sale would be completed by March 20, 2019. On March 19, 2019, Fox Corporation officially began trading on the S&P 500, replacing 21st Century Fox on the index. Republican politician and former Speaker of the House Paul Ryan also joined Fox Corporation's board at this time. Beginning of operations Fox Corporation began operating separately on March 18, 2019. Chairman and CEO Lachlan Murdoch led a town hall meeting three days later, indicating that stock would be issued to the corporation's employees based on longevity. In early July 2019, Fox Entertainment announced the formation of SideCar, with executives led by Gail Berman. SideCar is a content development unit for Fox and other outlets. In August 2019, Fox Corporation acquired Credible Labs for $397 million and animation studio Bento Box Entertainment. Bento Box was placed under Fox Entertainment. Corporate governance Board of directors * Rupert Murdoch (Chairman) * Lachlan Murdoch (Executive Chairman) * Chase Carey * Anne Dias * Roland A. Hernandez * Jacques Nasser * Paul Ryan Executive management * Lachlan Murdoch (Executive Chairman and Chief Executive Officer) ** John Nallen (Chief Operating Officer) ** Viet D. Dinh (Chief Legal and Policy Officer) ** Steve Tomsic (Chief Financial Officer) ** Jack Abernethy (Chief Executive Officer, Fox Television Stations) ** Michael Biard (President of Operations and Distribution) ** Paul Cheesbrough (Chief Technology Officer and Head of Direct to Consumer Platforms) ** Charlie Collier (Chief Executive Officer, Fox Entertainment) *** Gail Berman, Executive in Charge, SideCar *** Michael Thorn, President of Entertainment *** Rob Wade, President, Alternative Entertainment and Specials **** Corie Henson, EVP, Alternative Entertainment ** Joe Dorrego (Chief Investor Relations Officer and EVP of Corporate Initiatives) ** Marianne Gambelli (President of Advertising Sales) ** Hope Hicks (Executive Vice President and Chief Communications Officer) ** Kevin Lord (Executive Vice President of Human Resources) ** Danny O’Brien (Executive Vice President and Head of Government Relations) ** Suzanne Scott (Chief Executive Officer, Fox News and Fox Business Network) ** Eric Shanks (Chief Executive Officer and Executive Producer, Fox Sports) ** Jeff A. Taylor (Executive Vice President and Chief Litigation Counsel) ** Rita Tuzon (Executive Vice President and Corporate General Counsel) Assets * Fox Entertainment (formerly Fox Television Group) ** Fox Broadcasting Company ** Fox Now ** Sidecar ** Bento Box Entertainment ** Fox First Run (syndication) * Fox Television Stations Group ** 28 stations ** MyNetworkTV ** Movies! (50%) * Fox News Group ** Fox News Channel ** Fox Business Network ** Fox News Radio ** Fox News Talk ** Fox Nation * Fox Sports Media Group ** Fox Sports ** FS1 ** FS2 ** Fox Deportes ** Big Ten Network (51%) ** Fox Soccer Plus ** Fox Sports Racing ** Fox Sports Radio ** Fox Sports Digital Media *** FoxSports.com * Credible Labs References External links * Category:Companies Category:American companies established in 2019 Category:Fox Corporation Category:2019 establishments in New York City Category:Companies based in Manhattan Category:Companies listed on NASDAQ Category:Corporate spin-offs Category:Media companies based in New York City Category:Media companies established in 2019 Category:Media companies of the United States Category:Publicly traded companies based in New York City Category:Companies established in 2019